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3. RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

The Company is indebted to the officers of the Company for unpaid wages and bonuses from previous years that were converted into Notes. The balances at December 31, 2015 and 2014 are $421,044 to Mr. Reichman and $206,670 to Mrs. Griffin, respectively. The notes bear interest at 5% are due at January 15, 2016 and are unsecured. Accrued interest on the officer loans at December 31, 2015 is $104,879.

 

Due to officers as of December 31, 2015 and 2014 totals $164,105 and $128,767, respectively. These balances consist of net cash advances, and unpaid expense reimbursements due to David Reichman. The payables and cash advances are unsecured, due on demand and do not bear interest. During 2015 Mr. Reichman advanced $118,338 to the Company to cover operating expenses, and was repaid $83,000. During 2014 Mr. Reichman advanced $127,620, to the Company and was repaid $49,460. At December 31, 2015 and 2014, the balances due Mr. Reichman are $164,105 and $128,767, respectively.

 

During 2015 and 2014, a board member advanced $31,800 and $31,500, respectively. These totals consist of several small advances, each covered by separate notes that bear interest at 6%, are unsecured, and are due one year after the date of the advance or longer if extended. The total notes payable to this board member at December 31, 2015 and 2014 amount to $113,300 and $81,500, respectively. All notes to this officer become due during 2016 and are recorded as current liabilities.